DAIRY PAYMENT
£500,000 SURPLUS SPECIAL ARRANGEMENT DESERVE PLAN DELAYED Gisborne, June 8 Tlie distribution to the farmers of the surplus in the Dairy Industry Account is not part of the Government's policy, but is merely a special arrangement for the current year, according to a statement made by Hie Minister of Education, the Hon. P. Fraser, in the course of an address at Rualoria. Referring to the loss of £300,000 in the first year of the guaranteed price scheme, Mr Fraser said this loss had not been placed as a debit in the Dairy Industry Account, because it was regarded as an experimental year. This year up to the present, the Minister added, there was a surplus of £500,000. It was the Labour Government’s policy that in years in which there was a surplus this sum would be held against years when there would he a deficit. This policy, however, would not be put into operation this year, hut £500,000 or so would be distributed to the dairy farmers before the end of the year. A statement to this effect had already been made by the Prime Minister, the Rt. Hon. M. J. Savage, said Mr Fraser, but the way in which the surplus would be distributed would be announced by the Minister of Marketing, the Hon. W. Nash, shortly.
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Bibliographic details
Bay of Plenty Times, Volume LXVI, Issue 12370, 8 June 1938, Page 3
Word Count
220DAIRY PAYMENT Bay of Plenty Times, Volume LXVI, Issue 12370, 8 June 1938, Page 3
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